https://www.taxtmi.com/caselaws?id=761773 ITAT Bangalore allowed the assessee's appeal regarding deduction under Section 36(1)(vii) for bad debts from non-rural branches, ruling these need not be adjusted against PBDD relating to rural advances only, following Supreme Court precedent in Catholic Syrian Bank case. The tribunal dismissed revenue's appeal on Section 14A disallowance, finding no expenditure incurred for exempt income. Issues regarding provision for wage arrears under Section 115JB and deduction under Section 36(1)(viia) were remitted back to lower authorities for fresh consideration. Disallowances for payments to NPCI and Visa were deleted, following previous tribunal decisions and Supreme Court ruling in Kotak Securities case. en-us Mon, 30 Sep 2024 00:00:00 +0530 Fri, 15 Nov 2024 17:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761773 ITAT Bangalore allowed the assessee's appeal regarding deduction under Section 36(1)(vii) for bad debts from non-rural branches, ruling these need not be adjusted against PBDD relating to rural advances only, following Supreme Court precedent in Catholic Syrian Bank case. The tribunal dismissed revenue's appeal on Section 14A disallowance, finding no expenditure incurred for exempt income. Issues regarding provision for wage arrears under Section 115JB and deduction under Section 36(1)(viia) were remitted back to lower authorities for fresh consideration. Disallowances for payments to NPCI and Visa were deleted, following previous tribunal decisions and Supreme Court ruling in Kotak Securities case. Case-Laws Income Tax Mon, 30 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761773